361.
| (1) A body corporate or any director or secretary of the company shall not be qualified for appointment as liquidator of a company, whether in a winding up by or under the supervision of the court or in a voluntary winding up, and any appointment made in contravention of the provisions of this section shall be void. |
|
| (2) Nothing in this section shall disqualify a body corporate from acting as liquidator of company if acting under an appointment made before the appointed date, but subject as aforesaid, any body corporate which acts as liquidator of a company shall be guilty of an offence and shall be liable to a fine not exceeding one thousand rupees. |
|
|
Sri Lanka Consolidated Acts